Just like Hyundai and Kia did a few weeks ago, two other automakers are investing in Massachussetts-based startup Factorial Energy, which happens to have former Panasonic, Daimler and Ford bosses on its advisory board. The goal is to accelerate the development of solid-state batteries for electric vehicles.
We’re talking about Stellantis (Chrysler, Dodge, Jeep, Ram and others) and Mercedes-Benz. The former announced during its EV Day program last July that it plans to have the first competitive solid-state battery technology introduced by 2026.
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Factorial Energy has developed breakthrough solid-state technology that addresses key issues holding back wide-scale consumer adoption of EVs including driving range, charging times, safety and cost.
Called FEST (Factorial Electrolyte System Technology), it leverages a proprietary solid electrolyte material that enables safe and reliable cell performance with high-voltage and high-capacity electrodes. FEST is said to be safer than conventional lithium-ion technology while extending driving range by as much as 50 percent. What’s more, it is drop-in compatible for easy integration into existing lithium-ion battery manufacturing infrastructure.
Mercedes expects to start testing a prototype solid-state battery developed with Factorial Energy as early as next year.
Earlier this week, Japanese automaker Nissan announced it will start selling EVs with solid-state batteries by 2028 as part of its new “Ambition 2030” electrification plan. Toyota, BMW, Volkswagen and General Motors have all previously made similar announcements.